EBITDA stood at Rs 1,856.4 crore in Q3 FY26, registering a 235% YoY growth. The EBITDA margin improved to 36.01% in Q3 FY26 from 32.75% in Q3 FY25.

On a nine-month basis, the company reported an 81.18% increase in consolidated net profit to Rs 2,261.35 crore in 9M FY26, compared with Rs 1,248.09 crore in 9M FY25. Revenue from operations surged 100.66% YoY to Rs 11,092.95 crore during the period.

Meanwhile, the company’s board approved the incorporation of a wholly owned subsidiary in Maharashtra, with an estimated aggregate capital outlay of over Rs 252 crore, to be invested in tranches. The subsidiary is envisioned as a mission-driven institutional platform focused on structured skilling, leadership, entrepreneurship, and employment-linked programs aligned with regional development objectives and global workforce standards.

In furtherance of its earlier disclosures dated 25 April 2023 and 22 January 2024, the board also approved the development of a second slurry pipeline project, to be implemented in phases along with the requisite financing arrangements. The proposed pipeline route will run from Hedri–Konsari–Chandrapur–Jalna–Maharashtra Port, with Phase I covering Hedri to Chandrapur and Phase II extending to Maharashtra Port. The project aims to enable reliable and cost-efficient delivery of iron ore to multiple steel hubs.

Additionally, the board approved the designation of Ashit Patni, Chief Marketing Officer, as Senior Managerial Personnel (SMP) of the company, effective 3 February 2026, based on the recommendation of the Nomination and Remuneration Committee.

The board further approved a proposal for Lloyds Global Resources FZCO (LGRF), a wholly owned subsidiary, to acquire up to a 95% equity stake in Lloyds Asia Resources Pte., Singapore, for an aggregate consideration of up to $5 million, to be invested in one or more tranches. The entity will serve as a regional investment and operating platform for mining and mineral investments in Papua New Guinea and other Asian jurisdictions.

Separately, the board approved proposals for LGRF to acquire a 100% equity stake in TP Phoenix (Pty), a South Africa-based company, and to hold a 100% equity stake in a newly incorporated entity, Lloyds Global Resources South Africa. These entities will serve as strategic investment and operating platforms for the Lloyds Group’s African operations. Each acquisition will involve an aggregate consideration of up to $1 million, to be invested in tranches.

In line with earlier intimations dated 25 April 2023 and 8 December 2023, the board approved the capacity expansion of Pellet Plant–1 and Pellet Plant–2 at Konsari from 4 MTPA each to 5 MTPA each, through debottlenecking and process optimisation. The expansion aligns with the company’s strategy to strengthen its presence across the steel-making value chain, enables efficient utilisation of iron ore reserves, and facilitates value addition through forward integration with existing sponge iron facilities. It is also expected to support the company’s long-term growth objectives while contributing to improved margins and enhanced profitability.

Lloyds Metals and Energy (LMEL) is the leading player in the iron and steel-making industry.